Description
**Seller is offering a concession towards closing costs This prime commercial property in downtown Cortez offers an exceptional investment opportunity just one block off Main Street. The property features three units: the main building, currently vacant but last rented for $1,850/month and including an attached studio; a tanning salon leased through July 2026 at $800/month. The main building has a new roof which was completed in April 2025. The seller has secured historic designation for the 7 W. 1st building through the City of Cortez, offering valuable tax breaks and incentives for renovations and improvements. Zoned Neighborhood Commercial, the property provides flexibility for professional, residential, or multifamily development (subject to buyer due diligence). Based on current and potential rents, the property offers an attractive 11.0% cap rate, making it an outstanding option for investors seeking steady income, redevelopment potential, and tax-advantaged renovation opportunities.
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0BEDS
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0.16ACRES
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0BATHS
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01/2 BATHS
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2,141SQFT
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$135$/SQFT
School Ratings & Info
Description
**Seller is offering a concession towards closing costs This prime commercial property in downtown Cortez offers an exceptional investment opportunity just one block off Main Street. The property features three units: the main building, currently vacant but last rented for $1,850/month and including an attached studio; a tanning salon leased through July 2026 at $800/month. The main building has a new roof which was completed in April 2025. The seller has secured historic designation for the 7 W. 1st building through the City of Cortez, offering valuable tax breaks and incentives for renovations and improvements. Zoned Neighborhood Commercial, the property provides flexibility for professional, residential, or multifamily development (subject to buyer due diligence). Based on current and potential rents, the property offers an attractive 11.0% cap rate, making it an outstanding option for investors seeking steady income, redevelopment potential, and tax-advantaged renovation opportunities.
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This data was last updated: 2026-03-10T23:56:25.627.